SUI/USDT Pair Technical Analysis
The Sui Network has experienced a notable rise in Total Value Locked (TVL) in recent weeks. As a result of this increase, the price of SUI has rebounded strongly and is now trading within a key price zone.
Looking at the chart, we observe a descending channel pattern. Although the lower boundary of the channel was briefly violated, the price recovered swiftly, re-entered the channel, and climbed toward the upper trendline. After being rejected from this area yesterday, the price found support in the $2.83–$2.91 range.
SUI is currently trading in a critical zone—an area where previous breakouts have occurred and where the next direction could be determined. As long as the price holds above this key area, SUI is likely to attempt another breakout above the trendline. If the $3.13 level is broken, the next potential targets are $3.40 and $3.80, respectively.
For downward movements, the $2.83 support is the first level to watch. If this breaks, the $2.68 level may come into play as the next support.
These analyses are not intended as investment advice. They focus on key support and resistance levels that may present trading opportunities in the short and medium term based on market conditions. Users are solely responsible for their own trading decisions and risk management. Moreover, it is highly recommended to use a stop-loss (SL) strategy in all transactions.
